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Nov 28, 2012
11/12
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and will it get the economy going, no. so regardless of pledge or no pledge, i don't have a horse in this race, i'm part of the common sense party here, we have to fix the problem and raising taxes doesn't fix that problem. >> warren buffett came out this week and said the exact opposite. no disrespect to you but he's worth $40 billion and is considered to be the most successful investor in the history of mankind. he says throughout his life, throughout his career, there have been many periods with much higher tax rates, it's never made a dicky bird's difference to people's willingness to invest and that the combination of reduced spending and a few higher taxes for the wealthier people in america is the perfect answer. i just don't get a coherent argument why you can't do a bit of both. >> here's the issue, is that we have never had a period with more than 1% of the gdp in terms of tax hikes since 1969. that was the last time that happened and that put us into a recession and then we had several decades of increasing unem
and will it get the economy going, no. so regardless of pledge or no pledge, i don't have a horse in this race, i'm part of the common sense party here, we have to fix the problem and raising taxes doesn't fix that problem. >> warren buffett came out this week and said the exact opposite. no disrespect to you but he's worth $40 billion and is considered to be the most successful investor in the history of mankind. he says throughout his life, throughout his career, there have been many...
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Nov 26, 2012
11/12
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they can't afford to let the economy go off the cliff we're all talking about. they can't afford to have $600 billion of fiscal contraction in this economy. >> so, you and ed seem to disagree about what they might get done but do you disagree on how to invest right now? he says you have to be fully invested here. >> we are fully invested. we bought more equities for our growth clients a number of weeks ago and we bought u.s. equities on weakness because we believe there was an opportunity to. you want the market to go up indefinitely over the long run and i think it will happen. >> i'm curious about your call about avoiding munis. a lot of people see taxes going up on everything else. >> this is what it is. tax-exempt bonds sound good when taxes are going up but the value of the bonds have been bit up because panic buying is pushing our interest rates go up. you'll lose a lot of principle on munis bonds. if you buy one today you have a 1% to 2% chance to the upside and a 40% chance of losing money. that's not good odds. run away from interest rate-sensitive bond
they can't afford to let the economy go off the cliff we're all talking about. they can't afford to have $600 billion of fiscal contraction in this economy. >> so, you and ed seem to disagree about what they might get done but do you disagree on how to invest right now? he says you have to be fully invested here. >> we are fully invested. we bought more equities for our growth clients a number of weeks ago and we bought u.s. equities on weakness because we believe there was an...
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Nov 28, 2012
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, but i guess in my mind i think of traditional economy being the post-new deal economy of relatively robust high tax rates on high earners and a social safety net that is part of the social compact. to me that's tradition. that's 80 years. >> that's american. and i've -- you know, i've been working at investments -- well, really i bought my first stock when i was 11 but i started selling stocks when i was 20 and i sold stocks when personal income tax rates got as high as 91%. i've sold them when capital gains rate got as high as 39.6% and we had some wonderful periods of growth and g.d.p. and the middle-class as well as the rich prospered when tax rates were much higher than they are now. >> jon: well, we'll take a commercial and come back and talk about an op-ed that you wrote which laid out some of the math of this and some other financial going on in the world. we'll be right back. more from warren buffett and carol loomis right after this. (cheers anan (cheers and applause). >> jon: welcome back, we're talking with warren buffett and carol loomis. you know, we're talking a little
, but i guess in my mind i think of traditional economy being the post-new deal economy of relatively robust high tax rates on high earners and a social safety net that is part of the social compact. to me that's tradition. that's 80 years. >> that's american. and i've -- you know, i've been working at investments -- well, really i bought my first stock when i was 11 but i started selling stocks when i was 20 and i sold stocks when personal income tax rates got as high as 91%. i've sold...
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Nov 27, 2012
11/12
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egypt and the poor economy for quite some time and it is degrading. we see tourism plummet, and there is no hope of that coming back anytime soon. we don't see any real industrial activity in egypt. we see a very inefficient agricultural sector. a lot of things are wrong with the egyptian economy, and unfortunately president more see in the muslim brotherhood are focused on an agenda of distribution, redistribution of wealth and the welfare state which is just not a prescription for economic succes in the short term i think he is trying to shore up his power by taking some power back from the judiciary. then he will try to appeal to the poorest egyptians by redistributing. melissa: he better do that quick. don't want to run at a time without asking you about david's slang. a lot of made -- a lot was made of the iron dome. the net cost to israelis to shoot down one rocket is somewhere between $50,150,000. at the same time, you know, the moss is being supplied with rockets that are a few thousand dollars. you can see if this was just a battle of money t
egypt and the poor economy for quite some time and it is degrading. we see tourism plummet, and there is no hope of that coming back anytime soon. we don't see any real industrial activity in egypt. we see a very inefficient agricultural sector. a lot of things are wrong with the egyptian economy, and unfortunately president more see in the muslim brotherhood are focused on an agenda of distribution, redistribution of wealth and the welfare state which is just not a prescription for economic...
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Nov 24, 2012
11/12
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he wants to destroy the economy? who will allow that increase to devastate the economy? lou: a good point*. nobody talks about the fact that individual top -- checks payments federal receipts has risen over the last few years that the answer is broken i went to see how they talk to each other. there is a sense of helplessness that is palpable because i don't believe the congress feels it has the strength to penetrate the veil of denial , and secrecy that is this administration over the last nine weeks and he called for the special prosecutor. >> that's right. attorney general house to do it. >> eric holder says congressman you have a splendid idea. we will investigate ourselves. >> if he does not a point* a special prosecutor then what you have is the very people who floated the idea of general petraeus for adultery in the military. there is all kinds of pressure. lou: you don't thiik it is a coincidence coming down on david petraeus head against the issue it -- issues of the administration? >> exactly. i love your sarcasm. that is the problem. we have the purse strings
he wants to destroy the economy? who will allow that increase to devastate the economy? lou: a good point*. nobody talks about the fact that individual top -- checks payments federal receipts has risen over the last few years that the answer is broken i went to see how they talk to each other. there is a sense of helplessness that is palpable because i don't believe the congress feels it has the strength to penetrate the veil of denial , and secrecy that is this administration over the last...
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Nov 26, 2012
11/12
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this really gives you a clue as to what is happening in the economy. we are expecting those numbers to be down. melissa: a little bit of a rebound bit -- maybe if. melissa: here is what is "money" tonight. warren buffett's plans tax hike critics claiming that higher rates would not put a freeze on investing. is the oracle of omaha having of false prophecy? 220 men join us with the reaction. egyptian president makes a power grab that could make a feral blush. violent protests break out. will they bring mideast turmoil to new heights? one of the reasons top experts. getting a pink slip for not getting a flu shot. one employer fires all workers refusing to get the flu vaccine. is it legal? could more businesses follow suit? if even when they say it's not, it's always about "money." ♪ melissa: first, let's take a look at the day's market headlines. fiscal cliff years made a comeback and strong retail sales are not enough to offset the concern. the dow closed down 42 points. facebook shares some other best in four months. two formerly bearish analysts upg
this really gives you a clue as to what is happening in the economy. we are expecting those numbers to be down. melissa: a little bit of a rebound bit -- maybe if. melissa: here is what is "money" tonight. warren buffett's plans tax hike critics claiming that higher rates would not put a freeze on investing. is the oracle of omaha having of false prophecy? 220 men join us with the reaction. egyptian president makes a power grab that could make a feral blush. violent protests break...
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Nov 28, 2012
11/12
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the real revenue growth comes from a growing economy. you don't want to kill economic growth and end up with less revenue. we are reaching out, providing the revenue, but doing it in a way that gets people back to work and generates revenue from growth. gerri: i have to tell you, what i hear are people who are continuing to pitch their own position and not move into the center and the thing that amazes me, and ensure it amzes the american people, there is not even another meeting scheduled yet. how is that possible? days from the deadline. gerri: we should be meeting every day, and we are putting revenue on the table. that is a big step. the administration has to engage with us. gerri: thank you for coming on. we appreciate. ho you will come bck as these negotiations continue. hopefully you can find some kind of resolution. >> thank you. gerri: meanwhe, the house is back in session after the thanksgiving break. the speaker was met with an unusual demonstration. naked protesters, no kidding, outside his office. by the time we get our came
the real revenue growth comes from a growing economy. you don't want to kill economic growth and end up with less revenue. we are reaching out, providing the revenue, but doing it in a way that gets people back to work and generates revenue from growth. gerri: i have to tell you, what i hear are people who are continuing to pitch their own position and not move into the center and the thing that amazes me, and ensure it amzes the american people, there is not even another meeting scheduled yet....
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Nov 27, 2012
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is that what you're saying in this economy? >> well, 70% of this economy. so if you do that and you do some other things in the name of avoiding t fiscal cliff, well, we are going to be right on the edge of an economic downturn. >> let me ask you something. do you advise ronald reagan, if ronald reagan were alive today and he was facing the fiscal cliff, what do you think he would do? >> remember what he did in 86? he sat down with tip o'neill. they agreed that they could have very substantial reduction in tax rates across the board but particularly middle and high income tax rates and offset that base broadening. the result of that was taking the top rate down from 50% to 20%. the impact of bad was to have a significant increase in taxable income. people choosing to take more of their compensation in the form of taxable income and cutting back on tir tax expenditures andeductions and exclusions in working order. so i think that is what ronald reagan would do if he were here now. >> leadership will be key to all this. thank you so much for coming on the sho
is that what you're saying in this economy? >> well, 70% of this economy. so if you do that and you do some other things in the name of avoiding t fiscal cliff, well, we are going to be right on the edge of an economic downturn. >> let me ask you something. do you advise ronald reagan, if ronald reagan were alive today and he was facing the fiscal cliff, what do you think he would do? >> remember what he did in 86? he sat down with tip o'neill. they agreed that they could have...
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Nov 25, 2012
11/12
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in determines of higher dividend taxes and higher taxes on just about every piece of the economy and i tell yo don't believe me, go out there and talk to them. they started cutting back way before this last week. >> i want to take this point. >> and this is the problem, the fiscal cliff is really bad, but the solution offered by president obama of massive taxes is not that good. >> julian, what do you make of that this this is just a pandora's box, and the beginning. the fiscal cliff, could have a short-term impact, but ultimately the trend of higher taxes that charlie's point, is what businesses are really afraid of? >> i totally disagree with that and i think the surveys of businesses have shown that to be wrong and i talked to-- >> whoa, whoa, what survey. >> can i finish the point, charlie. >> you just said survey. >> we'll come back. >> i think that businesses are concerned mostly about whether consumers are going to spend or the not. that's the concern and i think as for the fiscal cliff, no, i don't think that's what it is and as for the fiscal cliff, anybody paying close atte
in determines of higher dividend taxes and higher taxes on just about every piece of the economy and i tell yo don't believe me, go out there and talk to them. they started cutting back way before this last week. >> i want to take this point. >> and this is the problem, the fiscal cliff is really bad, but the solution offered by president obama of massive taxes is not that good. >> julian, what do you make of that this this is just a pandora's box, and the beginning. the...
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Nov 26, 2012
11/12
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that'll be an awfully big hit to the economy. liz: to a for somebody economic council, physically says middle-class tax cuts on consumer spending, everybody spends. how do we come to this agreement, we keep hearing left the tax cuts they now warren buffett came out with an op-ed in "the new york times" say saying we should make that 500000 or under because two and 50,000 of their family is not rich and if the tax cuts expire as well they may be in trouble. do you think there is any wiggle room to move at 250,000 number little bit higher? >> would have to raise a significant amount of revenue so we are on a sustainable path. we cut taxes at a time when the economy could not afford it. we baltimore on a credit card. it will be required for the u.s. government on that unsustainable path. but ultimately that is what it will help our economy. david: what about the idea of deductions? even though the deadline is approaching quickly, when i put $25,000 cap on deductions. covering the overwhelming majority of americans. $25,000 cap on de
that'll be an awfully big hit to the economy. liz: to a for somebody economic council, physically says middle-class tax cuts on consumer spending, everybody spends. how do we come to this agreement, we keep hearing left the tax cuts they now warren buffett came out with an op-ed in "the new york times" say saying we should make that 500000 or under because two and 50,000 of their family is not rich and if the tax cuts expire as well they may be in trouble. do you think there is any...
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Nov 27, 2012
11/12
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we believe in stimulating the economy by leaving more money in the economy, more money in the states, more money in the private sector, and that is our philosophy. >>neil: you do not by a poll that says the majority of americans are for sticking it to the rip. >>guest: if you talk to people and you say, do you understand that your boss employs you, and your boss could be richer than you but if you tax your boss more it could be less jobs, that may not be your job but the person trying to get a job whose business does not expand because the taxes increase. people do get that. the president did run on a class warfare, class envy type of argument but he only got 40 percent of the vote in my state so my state rejected the message. >> the way it stands no with the proposals i have heard and senator john mccain could be right there could be a deal in the final hour, a way to avoid this mess, but most of the stuff i see are concessions on the part of republicans on revenue and not just avoiding a rate hike but they could feed on limiting deductions that could cost the rich more? >>guest: i a
we believe in stimulating the economy by leaving more money in the economy, more money in the states, more money in the private sector, and that is our philosophy. >>neil: you do not by a poll that says the majority of americans are for sticking it to the rip. >>guest: if you talk to people and you say, do you understand that your boss employs you, and your boss could be richer than you but if you tax your boss more it could be less jobs, that may not be your job but the person...
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Nov 29, 2012
11/12
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if the economy, does the economy rapidly improve? there are a lot of different factors but by and large people act rationale if they know those stocks going to get hammered, you will pay extra taxes you shy away from the stocks and why warren buffett has the bully puppet, i know he is a billionaire but he is a speculator and a political mouthpiece of the administration and it is tiring listening to this guy like he is the greatest economic mind we have? come on. >>neil: you are going --. >>guest: he hat made his share of mistakes, remember that sleazy deal? >>neil: we say the dividend rate could go to the top, whatever the income rate could be the rate you pay on taxes. the rumble over ronald, the unions going after the fast food powerhouse but why you could be the one getting kicked. we bel, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar tra
if the economy, does the economy rapidly improve? there are a lot of different factors but by and large people act rationale if they know those stocks going to get hammered, you will pay extra taxes you shy away from the stocks and why warren buffett has the bully puppet, i know he is a billionaire but he is a speculator and a political mouthpiece of the administration and it is tiring listening to this guy like he is the greatest economic mind we have? come on. >>neil: you are going --....
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interest rates to resume their normal ised rates in the four and five percent which would force the economy to have to pay its way here in britain instead of relying on handouts and welfare from the bank of england and the city so naturally he had to go he had to walk the plank to bring in a duff mark carney who will introduce on orthodox central banking techniques more in the style of bend shyster bernanke in which is horrible for the u.k. pound you think it's a poison chalice for mark carney either he raises interest rates to defend the pound of course causing a real estate crash or he goes down the path of allowing the pound to be debased he's going to actually here's what i predict i predict marconi will well devalued the british pound by twenty five percent he's going to force a currency devaluation as part of these currency wars that's my prediction from mark carney he will do the right thing by letting the economy. work through no natural interest rate rises no do the wrong thing and devalue the british pound again you know he was part of the financial stability board up until i assu
interest rates to resume their normal ised rates in the four and five percent which would force the economy to have to pay its way here in britain instead of relying on handouts and welfare from the bank of england and the city so naturally he had to go he had to walk the plank to bring in a duff mark carney who will introduce on orthodox central banking techniques more in the style of bend shyster bernanke in which is horrible for the u.k. pound you think it's a poison chalice for mark carney...
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is going to die i mean it has to just as phony we need to get rid of it so we can have a real economy arise to take its place but i think people are underestimating around the world just how important cheap money is to our borrow and spend economy and they're overestimating the ability the fed to to withdraw that liquidity and have the economy continue to grow on its own it can't you know the growth that we're having now is not legitimate growth it is simply borrowed money that we're spending and we're counting out as economic growth the fed i believe knows it i think that's the real reason it keeps interest rates so low is because it knows the economy will implode without it it knows that the only thing keeping the banks from failing is cheap money the only thing keeping the real state a cup market from plunging is cheap money the only thing that that allows the government to maintain the illusion of sovereignty is cheap money and the idea that the cheap money propecia away but at some point always fast ideas that and you know phony opinions are going to are going to collide with rea
is going to die i mean it has to just as phony we need to get rid of it so we can have a real economy arise to take its place but i think people are underestimating around the world just how important cheap money is to our borrow and spend economy and they're overestimating the ability the fed to to withdraw that liquidity and have the economy continue to grow on its own it can't you know the growth that we're having now is not legitimate growth it is simply borrowed money that we're spending...
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in two thousand and eleven using their phones and tablets to buy stuff is this a good thing for an economy in the doldrums or does people buying stuff at wal-mart that was probably manufactured are broad really help we talked to peter schiff and the white house announced president obama will hit the road to sell his plan to avoid the fiscal cliff to the public c.n.n. reports while senate majority leader harry reid today said he is disappointed with the little progress made in recent debt talks according to see a b c now we know the u.s. public debt is destructive whereas the dollar collapse people like peter schiff have called for we asked them and who does warren buffett think would make a great treasury secretary charlie rose asked. the point to jamie diamond service charge well i mean you're diminishing the i think you'd be terrific because i think he i think he. if we did run into problems with markets i think he would be the best person you could have in you know the old what are we in an alternative alternate universe the london whale commander in chief would be a great person to gra
in two thousand and eleven using their phones and tablets to buy stuff is this a good thing for an economy in the doldrums or does people buying stuff at wal-mart that was probably manufactured are broad really help we talked to peter schiff and the white house announced president obama will hit the road to sell his plan to avoid the fiscal cliff to the public c.n.n. reports while senate majority leader harry reid today said he is disappointed with the little progress made in recent debt talks...
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Nov 27, 2012
11/12
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if the economy grew at 4% instead of 2% a year for one decade. the federal government would net $5 trillion. that would pay down all of the debt that obama's accumulated in the first four years. if we had grown at reagan rates of growth instead of obama rates of growth, 11 million americans would be at work today who are out of work. that's how you do it with the most regulations. >> what if we carried along the bush rate of growth of the eight years before bk? >> well, there were three periods of growth or low growth during the bush years. he enlded president bush handing president obama the greatest financial hospital past of most people's living memory. the idea that show the republican economic policies have been this wonder yus success story going back the last three decades is poppycock. >> taxes are not the only policy. when he cut marginal tax rates on gains and dividends from 2002, there was four years of strong economic growth from '03 to '07. what you had was fannie mae and freddie mac making loans they shouldn't have. the federal gove
if the economy grew at 4% instead of 2% a year for one decade. the federal government would net $5 trillion. that would pay down all of the debt that obama's accumulated in the first four years. if we had grown at reagan rates of growth instead of obama rates of growth, 11 million americans would be at work today who are out of work. that's how you do it with the most regulations. >> what if we carried along the bush rate of growth of the eight years before bk? >> well, there were...
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Nov 24, 2012
11/12
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he wants to destroy the economy. no one in their right mind is going to allow that kind of increase to devastate the economy. lou: that's a good point. it's interesting that no one is talking about the fact that individual tax payment, 26% of the bush tax cuts over the past two years, the answer here is this. i just want to see everybody be happy. let me turn to benghazi. there is a palpable sense in washington dc right now. i don't believe the congress has the strength or the tools to actually penetrate the veil of denial and secrecy and opaqueness that is this administration and what it has done. now, when you think this is? >> the attorney general has to do this. lou: can you really see eric holder doing that? saying that we will investigate ourselves? >> if he doesn't do an independent investigation, you have the very people who have floated the idea of prosecuting general petraeus, there are all kinds of things they might do to him. there is all kinds of pressure that can be brought about. lou: are you saying th
he wants to destroy the economy. no one in their right mind is going to allow that kind of increase to devastate the economy. lou: that's a good point. it's interesting that no one is talking about the fact that individual tax payment, 26% of the bush tax cuts over the past two years, the answer here is this. i just want to see everybody be happy. let me turn to benghazi. there is a palpable sense in washington dc right now. i don't believe the congress has the strength or the tools to actually...
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these currency wars that's my prediction from mark carney he will do the right thing by letting the economy work through no natural interest rate rises no they'll do the wrong thing and devalue the british pound again you know he was part of the financial stability board up until i assume now and that's where the shadow banking system is so i think that it's something that we should look for because we know that a lot of the shadow banking has moved to london so i think it's something that they're worried about is something to look for for the future as this collapse goes out of back and system relies on zero percent interest rate that he's going to retain this conflict of interest he's going to retain financial stability authority position that's a huge conflict so if you've got goldman as you pointed out stretching all across europe all crossed the world to create a new ice age and economic growth due to zero percent interest rates let's have the equivalent of you know below zero temperatures in the ecology bringing and the ice like conditions of no growth frozen and frozen due to these c
these currency wars that's my prediction from mark carney he will do the right thing by letting the economy work through no natural interest rate rises no they'll do the wrong thing and devalue the british pound again you know he was part of the financial stability board up until i assume now and that's where the shadow banking system is so i think that it's something that we should look for because we know that a lot of the shadow banking has moved to london so i think it's something that...
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Nov 28, 2012
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but your number-1 priority is jobs and the economy you don't grow the economy to create jobs by raising taxes on small businesses, the people who create the jobs. >> white house press secretary today, jay carney said when he was asked when the next meeting would be, the answer was, it would come, quote at the appropriate time. >> well, nobody know what is that means -- >> no! that's my point. is that -- is that, you know -- look, all of have you had a vacation, i refer, to while you are campaigning the last 3 months. have you known about this fiscal cliff for a year and-a-half. now the president's going out, friday, to do, as you say, campaigning. the press secretary says there will be a meeting between the leaders at the appropriate time. that seems like it's right now. >> it does. to me, what you are seeing with the president and the democrats, is sort of an attempt to run out the clock. i think they think they gain leverage if the pressure builds. you are hearing a lot of prominent democrats saying, we should go over the fiscal cliff and let the taxes go up, which would be a huge mis
but your number-1 priority is jobs and the economy you don't grow the economy to create jobs by raising taxes on small businesses, the people who create the jobs. >> white house press secretary today, jay carney said when he was asked when the next meeting would be, the answer was, it would come, quote at the appropriate time. >> well, nobody know what is that means -- >> no! that's my point. is that -- is that, you know -- look, all of have you had a vacation, i refer, to...
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Nov 27, 2012
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> and republicans argue that the wealthy are job creators and they may not be able to stimulate the economy as much as a mite -- as they might. >> absolutely, that is their argument and one buffett argued that this is a great opportunity -- and warren buffett argued that if there is a great opportunity, people will not turn it down because the tax rate is not lower. what we have seen in the last two or three decades is the middle class income is stagnating, even as the very top has grown. trickle-down is not working. ameriprise to think of something else. >> thank you -- america house to think of something else. >> thank you for joining me. several people were killed when a fire broke out al-zawahiri workshop for disabled people. more than 100 firefighters were called -- broke out when a workshop for disabled people caught on fire. more than 100 firefighters were called to the scene. >> it happened in a small town in southwest germany. it was a workshop for physically disabled people at a project run by the catholic charity caritas. some people were trapped and contents were made by firefig
> and republicans argue that the wealthy are job creators and they may not be able to stimulate the economy as much as a mite -- as they might. >> absolutely, that is their argument and one buffett argued that this is a great opportunity -- and warren buffett argued that if there is a great opportunity, people will not turn it down because the tax rate is not lower. what we have seen in the last two or three decades is the middle class income is stagnating, even as the very top has...
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Nov 29, 2012
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slowing economy there. >>> chevron taking full-page ads in argentina newspapers. appealing for argentina's court to end freeze assets in the country. an argentina judge ordered freeze earlier this month on behalf of claimants in ecuador. think want a $19 billion damage stealthment. chevron says the case is fraudulent. interesting they're taking to the media. >>> why is the u.s. sending billions of dollars to egypt in fresh aid when president morsi is becoming a dictator before our very eyes? we'll talk about that, why that money might be better spent at home. "piles of money" coming up. ♪ look, if you have copd like me, you know it can be hard to breathe, and how that feels. copd includes chronic onchitis and emphysema. spiriva helps control my copsymptoms by keeping my airways open for 24 hours. plus, reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintance treatment that does both. spiriva handiher tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, g
slowing economy there. >>> chevron taking full-page ads in argentina newspapers. appealing for argentina's court to end freeze assets in the country. an argentina judge ordered freeze earlier this month on behalf of claimants in ecuador. think want a $19 billion damage stealthment. chevron says the case is fraudulent. interesting they're taking to the media. >>> why is the u.s. sending billions of dollars to egypt in fresh aid when president morsi is becoming a dictator before...
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Nov 26, 2012
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he wants to destroy the economy? come on. who in their right mind will allow that kind of increase to devastate the economy. it will not be hostess going out of business. >> lou: that is a good point and it is interesting, no one is talking about the fact that individual tax payments, taxpayer payments, internal revenue service, receipts from those taxpayers have risen 26% under the bush tax cuts, over the past two years which tells us that the answer here is growth. >> that's right. >> lou: i'm a simple fellow and i'd like to see everybody start talking to each other. let me turn to benghazi, because, the special prosecutor. there is a sense of hopelessness that is palpable in washington, d.c., right now. because, i don't believe the congress feels that it has the strength or the tools to actually penetrate the veil of denial and secrecy and opaqueness that is the administration, when it comes to what it has done. witness the last nine weeks. you are calling for a special prosecutor, and the fellow who has to do that work fo
he wants to destroy the economy? come on. who in their right mind will allow that kind of increase to devastate the economy. it will not be hostess going out of business. >> lou: that is a good point and it is interesting, no one is talking about the fact that individual tax payments, taxpayer payments, internal revenue service, receipts from those taxpayers have risen 26% under the bush tax cuts, over the past two years which tells us that the answer here is growth. >> that's...
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find out what's really happening to the global economy with. the global financial headlines. mission and free credit a should be free. for charges free arrangement three. free studio type free. old free broadcast quality video for your media for free. welcome back yesterday was cyber monday and online shoppers while they turned out they spent thirty percent more on cyber monday than last year according to data reported by the wall street journal now retailers were trying to sustain a thirteen percent gain in total thanksgiving weekend spending reported by the national retail federation so is this all a good sign for an economy in the doldrums the o.e.c.d. did after all just cut forecasts for u.s. growth next year from two point six percent to just two percent so is this a good thing all these consumers spending money or does it not do much since chances are many of the goods these shoppers shelled out for on sale were made in the u.s. because of peterson had to say. consumption is the reward for economic growth or does it cause growth it's production it's because all this stu
find out what's really happening to the global economy with. the global financial headlines. mission and free credit a should be free. for charges free arrangement three. free studio type free. old free broadcast quality video for your media for free. welcome back yesterday was cyber monday and online shoppers while they turned out they spent thirty percent more on cyber monday than last year according to data reported by the wall street journal now retailers were trying to sustain a thirteen...
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Nov 27, 2012
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the economy is getting better. we had a tremendous bubble and when it burst it was -- it had ramifications for all aspects of society and it was magnified by the abuses that had taken place in wall street and all kinds of places. so the dominos were lined up. we had plenty of problems. but we have been on the mend now for three years and it's taken a long time because it was a big problem but we are getting better all the time. >> rose: this book is called "tap dancing to work. " why did you choose that title? >> (laughs) >> rose: (laughs) >> i've learned a lot about the publishing world in the last few months and i've learned the title is a process of negotiation between the publisher and you and i came up with this after we'd considered two or three others and the publisher just -- displayed great judgment. said "i think it's a wonderful title, let's go with it." and that'sed what because he is a man who tap dancing to work. has forever. >> rose: and has talked about it. you have talked about tap dancing. it is s
the economy is getting better. we had a tremendous bubble and when it burst it was -- it had ramifications for all aspects of society and it was magnified by the abuses that had taken place in wall street and all kinds of places. so the dominos were lined up. we had plenty of problems. but we have been on the mend now for three years and it's taken a long time because it was a big problem but we are getting better all the time. >> rose: this book is called "tap dancing to work....
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Nov 26, 2012
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>> as far as economy goes, what could provide the greatest certainty for the economy right now would be for the house to take up the bill that the senate passed. extend those middle class tax cuts. >> mr. krueger, thank you for joining us. appreciate it very much. >> thank you for having me. >> alan krueger from the white house. in the latest score they're calling them physician ka cal cliff jumpers. senator patty murray of washington, congressman peter e defazio and peter welch saying it might make more sense to let the fiscal cliff come. >> sandra levin says this is no time to jump off the cliff. he joins us now from capitol hill. pleasure to have you here. >> thanks for joining us. >> why are your colleagues wrong about this? >> they're not saying jump off the cliff. i think everybody wants to avoid it. they're saying, let's not have a bad deal. no, we should avoid the cliff. everybody should listen to what alan krueger said. we need to take the steps. we need to extend middle class tax cuts that would be the major component of avoiding the impact of going over the cliff. we shoul
>> as far as economy goes, what could provide the greatest certainty for the economy right now would be for the house to take up the bill that the senate passed. extend those middle class tax cuts. >> mr. krueger, thank you for joining us. appreciate it very much. >> thank you for having me. >> alan krueger from the white house. in the latest score they're calling them physician ka cal cliff jumpers. senator patty murray of washington, congressman peter e defazio and...
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money out of the economy? >> everybody remembers very well the ugly process we went through in august of 2011 in raising the debt ceiling, and what happened immediately around the raising of that debt ceiling. we saw the stock markets crash. let me tell you if we go off this fiscal cliff -- and i put the blame squarely on the president. he's been awol on this issue for the last three years. now he's coming in and waving a flag, trying to take the glory, put the burden on republicans. republicans have been willing to negotiate. if he doesn't come forward and provide real leadership, we go off the cliff, the economic disaster that we're going to see is going to be squarely on the shoulders of this president. >> sean: i would like to adopt something like the mac penny plan. cut one penny out of every dollar washington spends, and we move to a balanced budget. with baseline budgeting, you have increases every year. can you ever get rid of baseline budgeting? >> if any corporation in america operated the way the co
money out of the economy? >> everybody remembers very well the ugly process we went through in august of 2011 in raising the debt ceiling, and what happened immediately around the raising of that debt ceiling. we saw the stock markets crash. let me tell you if we go off this fiscal cliff -- and i put the blame squarely on the president. he's been awol on this issue for the last three years. now he's coming in and waving a flag, trying to take the glory, put the burden on republicans....
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Nov 28, 2012
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but if your number one priority is jobs and the economy, you don't grow the economy and create jobs by raising taxes on small businesses, the very people who create those jobs. >> greta: white house press secretary today jay carney when asked when the next meeting with congressional members would be, the answer was, quote, it would come at the appropriate time. >> nobody knows what that means. >> greta: that's my point. look, all of you have had a vacation, campaigning, doing that for the last three months. you've been about this fiscal cliff for a year and a half. now the president is going out to do, as you say, campaigning. the press secretary says there will be a meeting between leaders at the appropriate time. the appropriate time seems like pretty much right now. >> well, it is. what you're seeing by the president and democrats is an attempt to run out the clock. i think they think they gain leverage if the pressure builds toward the end of the year. frankly you're hearing a lot of prominent democrats saying we should go over the fiscal cliff and let taxes go up, which would be a
but if your number one priority is jobs and the economy, you don't grow the economy and create jobs by raising taxes on small businesses, the very people who create those jobs. >> greta: white house press secretary today jay carney when asked when the next meeting with congressional members would be, the answer was, quote, it would come at the appropriate time. >> nobody knows what that means. >> greta: that's my point. look, all of you have had a vacation, campaigning, doing...
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don't tell me tax increases will ruin the economy. warren buffett wrote an op-ed, it's a lame outdated discredited argument from the gop. stop repeating the talking points. >> larry elder, i'll give you the last word. >> may i respond. the clinton income tax hikes underproduced revenue based upon their projections. they got in less money than they thought. when clinton lowered capital gains they got in far more revenue than they thought. cutting taxes is expansionary and raising taxes is contractionary. >> this discussion still comes down to spending. >>> a man in washington who has never wavered on this issue is senator tom coburn and in 20 minutes mr. coburn will join to us vent his frustrations about the fiscal cliff and the one-sided discussion and attention on revenues alone which is driving me crazy. politics aside, the question is what happens to the economy and your money if we go over the cliff or just kick the can down the road? you're going to want to hear what our next guest's predictions are because he's a former undersec
don't tell me tax increases will ruin the economy. warren buffett wrote an op-ed, it's a lame outdated discredited argument from the gop. stop repeating the talking points. >> larry elder, i'll give you the last word. >> may i respond. the clinton income tax hikes underproduced revenue based upon their projections. they got in less money than they thought. when clinton lowered capital gains they got in far more revenue than they thought. cutting taxes is expansionary and raising...
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said the surprise decision to hire mark carney was a significant positive turn for both the economy and the banks u.b.s. said it did not expect mr cornered to be as tough on lenders as his predecessor predicting an end to what it called an increasingly challenging u.k. regulatory agenda well it's appropriate as they must talk to me because he's overseeing a circus freak show of central bankers having their way. in the derivatives market the shadow banking system creating all kinds of contortionists out there in the central banking land and half naked ladies and in this case of mark carney he's a math i'm not for date of banking because he wants both higher interest rates and looser monetary policy is a financial i'm afeard i you know they should put him into. work perfectly and the city freak show one thread in the street there's mark carney and the bearded him aphrodite he wants higher rates and looser monetary policy welcome to the freak show marconi where we've got your number every bit of flesh on this show every single way because that's what we do bad guys welcome to the trade sho
said the surprise decision to hire mark carney was a significant positive turn for both the economy and the banks u.b.s. said it did not expect mr cornered to be as tough on lenders as his predecessor predicting an end to what it called an increasingly challenging u.k. regulatory agenda well it's appropriate as they must talk to me because he's overseeing a circus freak show of central bankers having their way. in the derivatives market the shadow banking system creating all kinds of...
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workers' wages have not been raised in real dollars for the last 30 years in this economy. the only jobs being created are low-wage, minimum-wage jobs without benefits or guaranteed hours. >> i think this is so strange. this is so strange. ma'am, we have billionaires on cnbc all the time. they tell us they get a social security check. they use medicare. and you can't even tell me that those people shouldn't have access to those benefits. we can't even cut off millionaires. but you're going to raise taxes. >> here's what we said when we created social security. that we wanted a minimum in this country and guaranteed social insurance program that has been turned into a notion that somehow it's some entitlement as opposed to a guarantee of the basic common good in this country. so, no, i am not willing to connect the question of medicare, medicaid, and social security to a conversation that this nation has been delaying for too long, which is how are we all in this together? how does everybody pay their fair share? and how do we restore economic recovery by getting people back
workers' wages have not been raised in real dollars for the last 30 years in this economy. the only jobs being created are low-wage, minimum-wage jobs without benefits or guaranteed hours. >> i think this is so strange. this is so strange. ma'am, we have billionaires on cnbc all the time. they tell us they get a social security check. they use medicare. and you can't even tell me that those people shouldn't have access to those benefits. we can't even cut off millionaires. but you're...
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the economy is not in a position right now where it can handle that big of a reduction. should we do those things? that is cut military spending? but it's gotta be done in the proper context at the right time. more gradually. so you know, it's going over the cliff would accomplish those things but it would also increase tax on millions of middle class americans a lot of small businesses. you know. and it would result in a lot of economic pain and hardship that we just don't need. >> bill: at the end of the day, what would be the best deal -- what's the best deal obama could get? not politically but if republicans were willing to compromise, what would the best deal that they could fashion look like? >> what you want in general here is to delay the spending cuts and tax increases in general. there are some that you should do immediately. but you want to do this as i just said until a time when the economy is capable -- when the private sector is not hoarding cash. and trade is helping out. >> bill: would be a combination of cuts. >> oh, yeah. a combination of cuts and rev
the economy is not in a position right now where it can handle that big of a reduction. should we do those things? that is cut military spending? but it's gotta be done in the proper context at the right time. more gradually. so you know, it's going over the cliff would accomplish those things but it would also increase tax on millions of middle class americans a lot of small businesses. you know. and it would result in a lot of economic pain and hardship that we just don't need. >> bill:...